How to Achieve Inventory Record Accuracy Driving Supply Chain Competencies primus www.putraprimus.com About Primus We are an independent supply chain practice operating in Singapore, Malaysia and Indonesia. We help companies craft supply chain strategies and help them execute those strategies to achieve competitive advantage. It is our belief that for a firm to lead its market sector, it needs to have a demand-driven supply chain that is tightly coupled with an effective human resource strategy. Such a strategy must maximize the firm’s unique investments in engineering, manufacturing, distribution, marketing and IT infrastructure. Because it is ultimately people that run supply chains, our practice focuses on education to build people competencies so vital in operational execution. We couple this with a team of seasoned practitioners who then act as “coaches” to guide them in implementing those strategies. 1 How to Achieve Inventory Record Accuracy Even many of the larger organizations have massive data integrity issues that create unnecessary variation in their planning and manufacturing processes. The tragedy is the simplicity of the issue. It is just a matter of management expectations. It is amazing. Despite the fact that inventory accuracy is so easy to obtain and cost effective, it still eludes manufacturing and service organizations. Why This Workshop? Even though a robust inventory control process is not expensive or technology dependent and is one of the most effective methods for minimizing unnecessary costs to an organization, statistical evidence suggests that more than 50% of businesses allow their inventory accuracy records to flounder below acceptable cost-effective levels. This workshop will work you through a step-by-step guide to achieving record accuracy in a manufacturing, retail, or distribution facility. It clearly illustrates how to achieve Class “A” 95+% perfect inventory balances in 120 days with minimal cycle counting for ongoing maintenance. This course will enable the delegate to understand the key issues involved.     Why inventory accuracy is important and the effect it can have on the daily running of the business To understand what needs to be done to carry out a successful annual stock take that will satisfy the Materials Manager and the auditors. To understand the concept of cycle counting and what needs to be in place before a cycle counting program can be effective. To appreciate the need to establish the cause of errors and some of the techniques that can be used to establish them. To understand how to apply these principles in the work place. 2 Key Learning Points       Why inventory record accuracy is important and the impact it can have on the effectiveness of the various modules of the planning system, and the effects on customer service levels. How to manage the annual stock take, considering the preparation required and methods that can be used to make it more effective. The concept of cycle counting, using a control group, setting up a cycle counting program and the various ways of determining which items are to be counted. The responsibility for cycle counting, the documentation and the cut off procedures required, and reviewing and acting upon the results. Examining two of the practical problem solving techniques that can be used, such as “Pareto analysis” and the “Cause & Effect diagrams” often referred to as “Fishbone diagrams” The “Ten Step Plan for Accurate Records” is explained to enable the delegate to obtain the high level of accuracy required in his own company. Who Should Attend      Stock Controllers Inventory Supervisors Finance & accounting staff involved in stock-taking Logistics Managers Consultants 3 Instructor Profile Dr Ramlee Ibrahim, aged 59 is a proven thought and strategic leader in Supply Chain Management with a track record spanning more than 30 years in the field. He is a veteran of several global supply chain transformations and is a recognized expert in supply chain design and in developing and executing strategic operational initiatives involving complex manufacturing and distribution operations. He has held senior roles with companies like Neptune Orient Lines, Energizer, ICI and Guess. He has also helped global giants like Dell, Singapore Airlines, and Petronas among others in transforming their respective supply chains. He holds a Ph.D. in Industrial Engineering, all three APICS certifications and is both a Certified Master Black Belt and a Certified SCOR Professional. Ramlee is an experienced trainer and coach, having trained more than 2000 professionals over the past 10 years. He is also active as a thought leader in supply chain management and is currently serving as Vice President of the Supply Chain Council Southeast Asia Chapter as well as Technical Advisor to the Indonesian Logistics Association (ALI). He was most recently involved in the consolidation of the APICS Dictionary with the SCOR Model in a global collaborative work with APICS and The Supply Chain Council. Ramlee is Singaporean but works out of Kuala Lumpur, and Jakarta. He can be contacted at: [email protected] The Primus Group of Companies Malaysia: Primus Consulting M-2-2 The Arcadia Jalan USJ 11/1 UEP Subang Jaya 47630 Selangor Tel: 603-80110021 Fax: 603-21784885 Indonesia: Putra Primus Perdana 28/F Menara Karya 28th Floor Jl HR Rasuna Said Blok X5 Kav 1-2 Jakarta 12950 Indonesia Tel: 6221 57895557 Fax: 6221 57895888 Web URL: www.putraprimus.com Training Blog: www.putraprimus.com/blog 4